AUD/USD Technical Analysis 03.12.2013
AUD/USD Technical Analysis– Prices narrowly broke above falling trend line resistance set from late January, exposing the 38.2% Fibonacci retracement at 1.0298. A push above that aims for the 1.0355-65 area marked by the 50% level and a horizontal pivot. The trend line (now at 1.0267) has been recast as support, with a reversal back beneath that eyeing the 23.6% Fib at 1.0228. We continue to hold long.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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